It is important for businesses to have a workforce with a creative mind so that complexities can be decreased. Reflection is the assertion of self-experience so that people can learn from their experience.
- Reflect and evaluate the management and personal decision together with their outcome.
- Application of creative thinking and the techniques of problem-solving in order to make decisions of business in changing environment.
Creative thinking is very essential for running a successful business. It facilitates in lessening the complexities related to various commercial activities. It provides an easy problem-solving approach for several issues which can affect the trade of an organization. It is very important to follow a creative approach to provide many strategies for expanding the business and making it more profitable (Miletzki and Broten, 2017). The following report consists of the reflection of several cases related to creative thinking, problem-solving, marketing strategies of various companies as well as individuals who are known to be successful in their particular fields.
Strategy and Success of Lady Gaga
The following case study discuses about the creative thinking which is adopted by Lady Gaga for getting success in entertainment industry. I have assisted that there were many marketing tactics which an individual can apply for succeeding in particular market. Some of them which I have analysed is provided below:
Branding- She developed herself as a brand by building up persona which included multifaceted and multimedia which was supported by many feature of her such as music, her visual appearance, different social attitude, newsworthy event, personality and communicated values. Most influential are theatricality and visual impact. Her outfits focuses on new standards in innovation and eccentricity.
Use of Social Media- She has a strong social media presence which includes building up of business model that recognise digital world Entertainment . A huge fan following on various social media accounts provide her an opportunity to grab a larger audience that provides an effective recognition around the world.
Relationship building - She has developed her market through building relationship with her fans in an unique way (Ersoy, 2014). There is a good communication between them as she has conveyed her various emotion and experience of life that has lead them to connect with her as an individual which provides a stage for building up of effective relation.
These strategies were effective in order to build up a strong market for Lady gaga that has made her a huge success in entertainment industry. Her unique selling proportion was the individuality and difference which she used for highlighting herself from other available competitors. Apart from this, she has made her connected with audience directly that has developed a connection which every fan can relate with her.
Strategy and Success of Jeff Bezos and Amazon
I acknowledged that Jeff Bezos as a successful entrepreneur made Amazon as an leading online retail store by adopting various strategies that resulted into desirable outcomes by effective problem solving method. Some of the strategies which he implemented for making his business to expand at massive rate are:
Focus On Growth- It is the primary objective as growth is essential for every business in order to get succeed. They formulated various strategies which were in favour of customer while neglecting their own profitability. This feature provided them an opportunity increase their ale and attract more customers.
Customer-Centric Approach- He focused on all the strategies which can provide benefit their customer such as free delivery of product and their availability at cheaper cost a compared to the prices at other stores. Their were availability of every type of products at one destination which provided them an advantage over other.
Diversification- It is the essence of business to make it succeed by diversifying the product portfolio. They diversified in the business of DVDs and CDs and expanded their trade in UK as well as Germany. Apart from this, Amazon offered vast range in product that converted its identity from a technological platform to the online retailer.
Sony's Battle for Video Game Supremacy
In the following case, I have acknowledged that strategies are very essential for making any business to be successful as it can lead to provide various opportunities to sustain market from competitors. But lack of strategies can result in potential harm which can be regarded a big disadvantage for the company which can lead to financial loss (Perry and Karpova, 2017). For supporting all strategies, it I required to develop certain tactics which will provide success to them in by accomplishing all success. There were much threat to Sony in the gaming industry as rivals were strongly prepared to provide competition to their new product which was PSP 3. Competitors were already prepared for competing with Sony as Microsoft launched Xbox 360 which was a great hit and sold 4million products. Apart from this, Sony was known to be in intense war with TOSHIBA company who tied up with Microsoft for gaining various opportunities which can be beneficial for their business. It was a learning for Sony that despite of having many strength there is a need to analyse all potential threat which can affect the business in many ways. As the present market is very dynamic and there are various features which affect the behavior of customers which lead to change in their preference accordingly.
PESTEL critical analysis on the Estate Agency
I have acknowledged that there are certain external forces that affect business activities in several ways. For analysis of external force PESTEL Analysis can be conducted which is given below :
Political- Political stability of the area where the organization is operating is very essential as it leads to support the expansion of business which result in its growth. Political environment is in favour for estate agencies as the government facilitating due to the increase in demand for houses.
Economical-There are various negative aspect of economical factors which are influencing Estate agency in negative manner as there is a decrease in mortgage rates that lead to slump in housing market.
Social- This factor is positively affecting the business as due to increase in the trend of individual living the demand for housing is increasing which is benefiting every estate agencies (Rothaermel, 2015).
Technological- There are many technological factors that are affecting it in a negative way as due to internet there can be direct deal between seller and buyer without any third person which is leading loss to Estate Agencies.
Environmental- Housing markets are most likely to be affected by environmental aspect such as location of particular house, climatic condition, source of transport etc.
Legal- It is supporting estate agencies as there are various always which are encouraging house marketing and the direct involvement of buyer and seller which can harm them in various ways.
Porter’s Five Forces
Porter' Five forces is known to be external analysis of five forces that affects the business of Estate Agencies in many ways-
Bargaining Power of Buyers- It is regarded as a high threat. For estate agencies customers have high bargaining power as, there are many agencies that provide similar services and apart from this, there can be direct sale which tends to maximise their power as there is no cost associated with it.
Bargaining Power of Suppliers- It is a low threat as these services does not requires much supply services apart from these there is a huge availability of other suppliers who are ready for providing the same services.
Threat of New Entrants- It can be considered as a high threat because there are various other new agencies that are entering in house marketing with various new options for customers and innovative way of serving with advanced technologies.
Threat of New Substitute- It is also a high threat because all other agencies are providing similar kind of services (Ginter, Duncan and Swayne, 2018). Therefore, customer can avail any of the agency for searching a new house.
Presence of Competitors- It is also a high threat because there are other agencies which are already established and has a trust of huge customer base. Therefore, competition is very high and strong strategies are required from various agencies in house marketing industry for a better survival.
Steve Jobs and his Traits
Steve Job was the founder of Apple and was a successful entrepreneur who had some traits which lead to made him more innovative and creative to produce highly featured electronic devices of the century. Some of them which I analysed were :
Passionate- He was very passionate as he focused for producing something very different in the field of technology and continuously worked on that and apart from this improving it in order to satisfy the need of customer.
Determined- For producing something innovative it is required to face failures and making it learning instead of demotivation is what makes him as a determined person. For a success it is very important for a person to consistently work on the conception and rectifying its every weakness effectively.
Innovative- He always focused on inventing something innovative which can make lessen the human efforts and provides them more ease for a particular purpose (Greiff and et.al., 2014). Therefore, he invented cellular phones which has the latest technologies and provided a world class service to them.
Opportunist- He was known to be opportunity grabber as with the globalisation there was an increase in the demand for innovative product which he considered as an opportunity and
worked upon it and produced such product which can satisfy those particular needs and acquire the market effectively.
Marketing Strategies for Airline Companies
I have acknowledged several marketing strategies of different airlines which have been provided below:
Easy jet is known as a cost leader as it focuses on the cost leadership strategy in marketing which has made it to survive in the market effectively as it provide a low pricing strategy which is dynamic in nature as it changes with respect to the demand of particular flight. It focuses on the lower class customers to whom they provide basic services. There is a concept of direct sales which saves the cost related to the commission. They provide access through their app that leads to attracting customer because services are easy to access.
Apart from this, there is another airline company British Airways which promote their brand through print media as well as broadcasting advertisement on televisions (Ersoy, 2014). They have developed their global image through ethnic paintings in their plain. It tends to target every customer from various status level to develop a large customer market.
Qatar Airway another leading airline that has huge number of spacecrafts. It conducts their promotion through running articles which attract large target users. They have special luxury services such a travel accompanied by limousine. They are attracting customers through their highly privileged service for all the business class travellers with their comfort cabins.
Reflection on innovation case: TESLA Motors
From the above case scenario, It was clearly analysed that business operations of TESLA Motors is based on continuous innovation of existing products and services. Company has achieved growth and recognition in market after innovating its products such as Cars and other commercial vehicles. In the mid June of 2014. The company has released all his its patent holdings, claiming that open source's innovation is also more powerful. The radical approach to wards the innovation runs deep as evidenced in the technology and design approach of organization's Flagship model, its $69,900 luxury car (Kucel and et. al., 2016). However, there are some technical difference have also been faced by organization while working with Teardown which is an IHS technological team. Innovation designs and unique technical features have been included by organization in its vehicles. Some manufacturing different have been analysed which has provided them support in innovating products and service. Further, I have also analysed that company has applied a Silicon Valley culture and EMS approach to manufacturing which has provided clear advantage for completion of models.
In addition to this, difference in development services have provided them support in making their products more reliable and accurate in market. The EMS innovation models stated that company have achieved competencies to sustain in market through accomplishment of needs and requirements of its target customers towards products and services.
Reflection on Case study
From the above case scenario, it is analysed Netflix Inc is an American over the top media services' provider, which is headquartered in Los Gatos. It is also considered international service provider that keeps on adding members, but rising costs and risks that brings new challenges. However, torrid growth story has brought various new problems as the streamline companies faced eager in order to knock it off its perch (Schuhmacher, Kuester and Hultink, 2018). At present, company is alone at the top of streamlined world and especially if the person peer over the cliff and see the hordes of rivals clambering up to take their spot. Company has faced issues in regulation of business and adding more members due to its continuous rise in cost and innovation of various important business opportunities and regulation. Moreover, higher cost have been justified because the company has been growing quickly too, with customers up in the 25 percent in the past year and almost getting doubled after 2012. The realities of Netflix costly business model are finally catching up to the organization. Advancement in technologies have also provided support to organization in innovation its application and other technological services which they provide to their customers. Another important driver factor in the move rental industry is low costs. The American households spend on an Average, nearly five hours per day watching video content. There are various innovation business responsibilities have been accomplished by organization for completion of various roles and responsibilities at workplace. For resolving issues, company have hired various important contents that needs to be completion of research in appropriate manner. Technological factors is analysed as largest factor that affects company's position towards completion of research.
Critical research on Northern General transport company
The scenario provides clear understanding that company is originated in the early 1900s when Gateshead and District tramways asked permission to extend their Tramway, which is finished at low feel to Chester-Le-Street. Parliament denied this, so the directors have also decided to set up a motor bus operation instead. Recently the company has faced decline in sales and loss of market share in their long distance business and they also need to identify ways to improve their market position.
Ineffective marketing strategies of the organization was the major issues behind their decline in sales and market share. Along with this, company has not applied any innovation in service to sustain in market. The services provided by organization are not fulfilling the requirements of its customers (Allen and et.al.,2015). Although, low rate of investment in business have also restricted organization to innovate its operations in market. For improvement of position and increase in market share the company needs to improve its customer services among long-distance passengers, developing marketing slogan that helps in increasing its promotions among its customers. Further, company also needs to improve the relationship between managers and subordinate at workplace which helps them completion of research in appropriate manner. Although, the organization also needs to find ways to attain competitive advantage such as adopting cost leadership strategy in which company provide quality services at low prices to attain competitors position in the transportations industry.
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- Ersoy, E., 2014. The effects of problem-based learning method in higher education on creative thinking. Procedia-Social and Behavioral Sciences. 116. pp.3494-3498.
- Ginter, P. M., Duncan, W. J. and Swayne, L. E., 2018. The strategic management of health care organizations. John Wiley & Sons.
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- Schuhmacher, M. C., Kuester, S. and Hultink, E. J., 2018. A ppetizer or M ain C ourse: E arly M arket vs. M ajority M arket G otoM arket S trategies for R adical I nnovations. Journal of product innovation management. 35(1). pp.106-124.